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RJ Reynolds News

RJ Reynolds Bonds Rated Low Because of Liability Concerns

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At a glance:

This article discusses the liquidity of Reynolds American, the parent company of RJ Reynolds Tobacco.
 
Even though the company generates a high cash flow and has more cash than debt, its bonds are are rated below investment grade because of litigation worries.
 
Two cases in particular are pending, one in Florida and one by the US Government alleging that cigarette companies covered up the risks of smoking.

Reynolds likes the problems cash brings

Winston-Salem Journal - 2/26/2006 2:13 AM

The subsidiaries of Reynolds American Inc. generate a lot of cash, and the company and its investors want to keep it that way.
 
Although the company makes a lot of money and has a hefty bank account, its obligations are substantial, and its cash position carries a lot of responsibility.
 
Times are good at Reynolds American, the parent company of R.J. Reynolds Tobacco Co., which merged with Brown & Williamson Tobacco Corp. in 2004. Market share for its two key brands, Camel and Kool, is growing, and the company recently reported a profit of $1 b
 
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